Everest Re Group (NYSE:RE) Given New $345.00 Price Target at Morgan Stanley

Everest Re Group (NYSE:REGet Rating) had its price target hoisted by Morgan Stanley from $320.00 to $345.00 in a report released on Tuesday, MarketBeat Ratings reports. The brokerage currently has an overweight rating on the insurance provider’s stock.

Several other research analysts have also recently weighed in on the company. StockNews.com cut Everest Re Group from a buy rating to a hold rating in a research report on Friday, November 4th. Wells Fargo & Company increased their price objective on Everest Re Group from $322.00 to $333.00 and gave the stock an overweight rating in a research report on Friday, October 28th.

Everest Re Group Trading Up 1.5 %

Shares of Everest Re Group stock opened at $327.25 on Tuesday. The business has a fifty day simple moving average of $289.55 and a two-hundred day simple moving average of $279.74. Everest Re Group has a 1 year low of $244.57 and a 1 year high of $337.50. The company has a market capitalization of $12.82 billion, a price-to-earnings ratio of 24.44, a P/E/G ratio of 1.03 and a beta of 0.59. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.31 and a quick ratio of 0.31.

Everest Re Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 16th. Shareholders of record on Wednesday, November 23rd will be given a $1.65 dividend. This represents a $6.60 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date is Tuesday, November 22nd. Everest Re Group’s dividend payout ratio is presently 0.30%.

Insider Buying and Selling at Everest Re Group

In other news, Director John A. Weber sold 2,391 shares of Everest Re Group stock in a transaction dated Monday, October 31st. The stock was sold at an average price of $323.00, for a total transaction of $772,293.00. Following the sale, the director now directly owns 7,744 shares of the company’s stock, valued at $2,501,312. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, VP Sanjoy Mukherjee sold 700 shares of Everest Re Group stock in a transaction dated Thursday, November 17th. The stock was sold at an average price of $317.38, for a total transaction of $222,166.00. Following the sale, the vice president now directly owns 42,393 shares of the company’s stock, valued at $13,454,690.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John A. Weber sold 2,391 shares of Everest Re Group stock in a transaction dated Monday, October 31st. The shares were sold at an average price of $323.00, for a total value of $772,293.00. Following the sale, the director now directly owns 7,744 shares in the company, valued at $2,501,312. The disclosure for this sale can be found here. Insiders have sold a total of 4,426 shares of company stock worth $1,424,369 over the last 90 days. Insiders own 1.40% of the company’s stock.

Hedge Funds Weigh In On Everest Re Group

Hedge funds and other institutional investors have recently made changes to their positions in the stock. FinTrust Capital Advisors LLC lifted its stake in shares of Everest Re Group by 248.1% in the third quarter. FinTrust Capital Advisors LLC now owns 94 shares of the insurance provider’s stock worth $26,000 after acquiring an additional 67 shares during the period. Benjamin F. Edwards & Company Inc. acquired a new position in Everest Re Group in the third quarter valued at approximately $26,000. First Horizon Advisors Inc. lifted its stake in Everest Re Group by 71.2% in the second quarter. First Horizon Advisors Inc. now owns 113 shares of the insurance provider’s stock valued at $31,000 after buying an additional 47 shares during the period. CX Institutional acquired a new position in Everest Re Group in the second quarter valued at approximately $32,000. Finally, Heritage Wealth Advisors acquired a new position in Everest Re Group in the second quarter valued at approximately $36,000. 92.35% of the stock is owned by institutional investors and hedge funds.

Everest Re Group Company Profile

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Everest Re Group, Ltd., through its subsidiaries, provides reinsurance and insurance products in the United States, Bermuda, and internationally. The company operates through Reinsurance Operations and Insurance Operations segments. The Reinsurance Operations segment writes property and casualty reinsurance; and specialty lines of business through reinsurance brokers, as well as directly with ceding companies in the United States, Bermuda, Ireland, Canada, Singapore, Switzerland, and the United Kingdom.

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